Sobha Ltd to launch first luxury project in Delhi-NCR, stocks surge over 5% intraday

By: | Updated: June 29, 2016 4:46 PM

Sobha Ltd shares surged over 5 per cent on Wednesday after the company announced that it will launch its first luxury apartment in Delhi-NCR.

Sobha Ltd stocksSobha Ltd shares surged over 5 per cent on Wednesday after the company announced that it will launch its first luxury apartment in Delhi-NCR. (Express photo)

Sobha Ltd shares surged over 5 per cent intraday on Wednesday after the company announced that it will launch its first luxury apartment in Delhi-NCR.

At 9.34 am, stocks of the company were trading 4.48 per cent up at Rs 323.05. The scrip opened at Rs 314.90 and has touched a high and low of Rs 325.40 and Rs 314.90, rexpectively, in trade so far.

Sobha Ltd’s luxury project – Sobha City – will be located in Gurgaon and comprises 1700 apartments across 22 towers.

The project offers 2 and 3 BHK apartments with floor area 1380 square ft to 2342 square ft.

JC Sharma, vice-chairman and managing director of the company said, ” Gurgaon being one of the fastest growing realty markets, offers high capital appreciation, making it a lucrative investment option. Sobha City aims to fulfil the desires of quality conscious and value discerning cutomers. More importantly, the project underscores promise of international quality, luxury and comfortable living.”

Later, the scrip closed 3.17 per cent up at Rs 319.

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